China’s lithium producer Ganfeng Lithium Co. has an-nounced its plans to pay some US$130 million for shares in the Gou-lamina hard-rock mine in Mali, and take over at least 50 percent of the asset’s first phase output.
The latest development comes as the Chinese business is seeking to make its first investment in African lithium mining and increase its production, according to the information obtained by Reuters.
Under the plan, Ganfeng Lithium Co. is to acquire 50 percent of the shares in a special purpose vehicle established by Australian com-pany Firefinch which is the mine’s current licence holder. Mali’s gov-ernment will have the right to take a 10 percent stake in the vehicle free of charge, and pay in cash for a further 10 percent if it decides to do so.